There’s nothing quite like the first overbid of the new year–in this case because it’s actually a fairly modest affair all around.
The two bed, one-bath circa 1930 house at 2626 23rd Avenue sold this week after just a little over a month on the market for more than $1.5 million, or more than 134 percent of the initial asking price.
That’s a very respectable sale by any measure, but less spectacular than we’ve seen in some recent weeks, presumably on account of a slower post-holiday period.
As for the home itself, it too is a modest affair–or at least it would seem to be if we could really get a look at it. This one went on the market as a fixer opportunity without photo evidence of any kind; from the outside it looks fine, and the city has no complaints on file for it, with the only work on the place being a new roof in 2018.
Still, whether they realized it or not, these buyers gave us the ideal note to start off a new year on: Something that already stands out but that also has big ambitions to do more. Speaking of which, that’s one weekly overbid down for the year, 51 more to go.
|Address||BR/BA/Units||DOM||List Price||Sold Price||Overbid|
|2626 23rd Avenue||2/1/N/A||6||$1,125,000||$1,510,000||34.22%|
|2678 22nd Avenue||2/1/N/A||13||$1,195,000||$1,550,000||29.71%|
|1574 41st Avenue||3/1/N/A||6||$1,288,000||$1,600,000||24.22%|
|631 33rd Avenue 633||N/A/N/A/N/A||13||$1,298,000||$1,608,888||23.95%|
|6516 California Street||2/1/||8||$1,195,000||$1,455,000||21.76%|
|5426 Anza Street||4/4/N/A||11||$2,295,000||$2,750,000||19.83%|
|2390 14th Avenue||N/A/N/A/N/A||24||$1,998,000||$2,357,000||17.97%|
|235 Montecito Avenue||3/2/N/A||7||$1,699,000||$2,000,000||17.72%|
|1150 Dolores Street||1/1/4||5||$899,000||$1,050,000||16.80%|
|1968 Armstrong Avenue||4/3/N/A||11||$1,159,000||$1,325,000||14.32%|
As always, if you have any questions you can contact us directly, or throw them in the comments below. Make sure to subscribe to this blog, or follow us on social media @theFrontSteps too. And please do consider giving us a chance to earn your business and trust when it’s time to buy or sell Bay Area property. People like working with us, and we think you will too.
3 thoughts on “Maximum Overbid: A New Year’s Fixer Breaks Bank”
As someone who purchased a property that was featured on your Maximum Overbid (not this property), I would like to point out that the listed Price Per Square Foot was deliberately lower than what the average price per square foot in SF was at the time of purchase, and we actually got a really good price on our house. The fact that the listing agents on most properties deliberately list properties price per square foot exceptionally low to get on potential buyer’s radar is never discussed on this blog or other forms of media.
Actually that’s a great point and one we we bring up all the time, both on Maximum Overbid and in general. But it’s true we don’t reference it every week, both because that gets redundant and also because, ah, certain people seem to think we’re accusing them of something if we make reference to this phenomena. -ALB
Thanks Yasmin. We have been mentioning it in countless posts in the past. Something usually along the lines of “priced ridiculously low” or something to the effect of “don’t know who started it but it works” . Regardless, we appreciate you reading our site and encourage you to share our site with friends and family and consider us when it’s time to sell your wonderful property. 👍🏻